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. and then this party that paraded around as the big deficit hawks, the guys that wanted to control spending, the only cuts they put on the table is playing at margins, increasing retirement age from 65 to 67 and adjusting rates for social security. this hasn't presented itself as a party that wants to cut spending. on one hand you have president obama's proposal, which most agree is the responsible way of raising the debt, raising rates. and responsible cuts on entitlements and discretionary spending versus republicans who are divided against something that is a chicken hawk when it comes to the deficits, that is the boehner approach, or the more extremist position which is absolutely nothing.รง so this is an extraordinary position for the republican party to have evolved into. >> you must respond to what julian just said. >> i like julian an awful lot but i think what he said is entirely wrong. it's fascinating president obama last july, july of 2011, said we can get $1.2 trillion in revenue where we don't have to raise marginal tax rates and close loopholes and julian says most economists agree, i
the long term effects of our deficit, which are directly tied to health care -- the work that has been done in the congress as it relates to constructing and exchange that will take place in 2014 and go into effect, and the tools that we provided a initially on a concept that by its very nature was one designed by republicans, that there is ample room for us to tackle the unbelievable rise in cost of health care to 17% of our gross domestic product by focusing on dropping those costs. most recently the president of aetna said very clearly -- not only if we drop those costs would we make health care more affordable, we would also deal with balancing our national debt. so these are all very constructive areas that we all should agree to. that the american public wants us to pursue. we remain optimistic because of the way the president has gone out there and is selling this concept, not only in white house public. i commend leader boehner, speaker boehner, setting the appropriate tone in the conference. we know there are differences in both the caucus and the conference, but it is the common t
political adviser indicated that medicare and medicaid are the main drivers of our deficit. i know we have seen this morning also several editorial writers indicate the same, that it is important that we put these drivers of the deficit on the table and include them as part of any agreement to avoid the fiscal cliff. as the speaker said, we have done our part. we have put revenues on the table, something we did not do two years ago during the debt ceiling negotiation. we still believe that it is most important for us to address the economic situation in this country where so many people are out of work. that is why we take the position and believe strongly that increase in marginal rates i, income-tax rates, is not the way to produce growth and put people back to work. but we have not seen any good faith effort on the part of its administration to talk about the real problem that we're trying to fix. i am told mr. bowles, some of us will meet with him later today, said earlier this morning there has been no serious discussion by the white house on entitlements, on medicare and medicaid. th
. [ screaming ] oh grover! electric deficit boogaloo. 29 minutes after the hour. right back on "the stephanie miller show." >> wow! i've never seen anything like this. >> when disaster strikes sometimes the only way out is to look within. current tv digs deep into the determination and escape. "trapped" experience the drama. back to back to back. >> hold on mates! >> catch the "trapped" mini-marathon saturday starting at 1 eastern. on current tv. rich, chewy caramel rolled up in smooth milk chocolate. don't forget about that payroll meeting. rolo.get your smooth on. also in minis. get irresistibly clean and fresh carpets in your home with resolve deep clean powder. the moist powder removes three times more dirt than vacuuming alone while neutralizing odors for a clean you can see, smell and really enjoy. don't just vacuum clean. resolve clean. [ singing christmas carols in background ] aunt sally's singing again. it's a tradition honey. [ singing christmas carols ] mmmm. [ female announcer ] make new traditions with pillsbury grands! cinnamon rolls. [ f
. tea party 2, the sequel. [ screaming ] oh grover! electric deficit boogaloo. 29 minutes after the hour. right back on "the stephanie miller show." alright, in 15 minutes we're going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. salads, sandwiches, and more. rich, chewy caramel rolled up in smooth milk chocolate. don't forget about that payroll meeting. rolo.get your smooth
that bill clinton generated for the george w. bush administration, and turned it into a huge deficit. >> eliot: yes, look, that is a perfect articulation of what has happened over the past 20 years economically. david stockman is still telling the truth about what the true intent was all the way through. quickly, fix the deficit co-alation trying to use what they're creating, the emotional crisis they're creating, and in argument to lower their own corporate taxes once again. does that make sense to you? >> big corporations are sitting on almost 2 trillion-dollar of cash they don't know what to do with. the idea that they some how need more cash is absurd. the ceos, what they want for themselves instead of $8 million or $10 million in cash or in compensation they like more compensation. it has nothing to do with the welfare of the economy over all. >> eliot: former u.s. labor secretary robert reich and my nominee for u.s. treasure secretary, "beyond outrage" robert reich as always, thanks. >> thanks, eliot. >> eliot: turning to weather the prediction calls for cats. viewfinder. [ mal
to reduce the deficit, 63% said no. 86% of the ads run for obama were personal attacks on romney. he won a stunning mandate to not be romney. he did not run on the basis he was going to do massive new spending and the kind of tax increases, $1.6 trillion that he's now talking about. and at the same time that obama was elected president, the republican house, which had twice voted for a real budget -- remember, the president's budget he claims he has a mandate for was put up before the house and the democrats all voted against it. in the senate, the democrats didn't want to have anything to do with it. it's a little hard to argue, he had a mandate for something the rest of his party ran away from. >> well -- >> did not run ads on those issues. >> and, of course, it was a bit more complicated than that. but to your point about the exit polls, it's true, most people said that they didn't want tax increases to solve the deficit. what they said -- the majority, was they wanted both balanced. they wanted cuts and tax increases. which is what both john boehner and the president -- in very strid
on a comprehensive plan to bring down the deficit. jay carney broke new ground by declaring that the president does on spending cuts within the budget plan to be included in the fiscal cliff talks. >> can you also look in the camera and say dear democrats, both for and include some of the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that ws voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted maj spending cuts and entitlement reform will not be part of these talks. nancy pelosi has been noncommittal about whether cuts will be in the deal. still, they are trying to breathe into the talks with vice present biden shopping avenue costco in washington, picking up a big-screen tv and an apple pie and insisting he is optimistic of the deal. >> i am. all these folks in the store. they are ing to make a difference. reporter: a p
and afghanistan, shaving another trillion off of the deficit. that gets us to around 4 trillion in deficit over the next ten years. we are almost at 5 trillion in deficit reduction. as they sign the game shows, that's not all. the white house is also asking for about 200 billion in stimulus. according to the weekly standard, when senate minority leader mitch mcconnell saw the proposal, he quote, burst into laughter. he literally lol 'd. >> i've been very guarded in what i wanted to say. i didn't want it make it harder for me it say or the president or members of both parties to find common ground. but when i come out the day after the election and make it clear that republicans will put revenue on the table, i took a great risk. and then the white house spends three weeks trying to develop a proposal and they send one up here, the calls for $1.6 trillion of new taxes, calls for not even $400 billion in cuts, and they want to have extra spending, that's actually greater than the amount they are willing to cut. i mean, it's -- it was not a serious proposal. and so, right now, we're almost nowhere
.o.p. forget tax rates in talks on the deficit, let's look at the spending. the speaker's swift rejection of an idea floated by representative tom cole of oklahoma, a respected party strategist and former chair of the house g.o.p. campaign committee came as the republicans voiced increasing concerns over the debate of the so-called fiscal cliff. boehner said it's time for them to get serious about the spending problem that our country has. republicans complain that for all the talk of coming up with a balanced budget plan, he has made little effort to identify specific proposals beyond increasing taxes on the wealthy. "the white house has not produced any of the balance in the president's described balance proposal that peter roscoe, the house g.o.p.'s deputy whip. boehner and the other house republican leaders will meet on thursday with treasury sec tir tim geitner and the white house's chief congressional li aison to discuss the fiscal cliff. that's the hill newspaper. here's politico this morning, inside the talk, fiscal cliff deal emerging is what some write this morning. and that's f
is to go over the fiscal cliff. it maximizing the deficit reduction. there's no deal cut between republicans and democrats. it's not going to reduce the amount of money coming out of the deficit by a lot. so if you do that, you go back to the clinton tax rates, cut some defense and we have a short, mild recession for two quarters. we have to get serious about the deficit e. i have no belief that the congress is going to get serious about the deficit. so tom cole was right because he wants to get the republicans back in the mainstream. but the best thing the country could do is go over the cliff. >> timothy geithner doesn't agree with you on that. >> he may or may not. but i looked at this a lot of ways. the people inside washington are awfully smart and awfully out of touch. we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff.
intervention to curb the deficit. it has been astronomical. then i heard barack obama say the way we are going to do it is by making more cuts in various ways. he was saying by making more cuts and the only people it is going to hurt is the working class and somewhat of the middle-class. he should mention the fact that out of control spending has a lot to do with the credit card crunch. specifically because of the middle-class. i think if we get those tax cuts centered with them, i do not think the poll would be affected. you have these small companies that are developing, and he is saying have those small companies hire more people and get them involved, but come consumer expenditures. that is partially i think a solution. host: you are calling on the republican line and you think hillary clinton would make a good candidate. would you vote for her in 2016? caller: i think she would be a very vital aspect to the political process. as far as her running for president, 2016 -- god knows what may happen from this point to that point. as far as her role as a democrat, i think by working along with
simpson shared the deficit reduction commission a couple of years ago. they are both in town trying to pound a sense at into elected leaders. evan thomas has been out of town promoting his book, "ike's bluff." terrific christmas present. >> thank you. >> as i recall, we were having the same composition we are having now. >> like groundhog day. talk about bluffing -- they will be complete unreasonable until the last second where they agreed. while they are bluffing, we could go over the cliff. >> where are we headed, mark? >> one side says that raising tax rates is an example, the other side says we will not balance the budget on the backs of students and seniors without asking those who make as much as i do not to pay another diamond. we are in the chest thumping a stage of this negotiation. we are interested in the product rather than the process. the process does the fact of the product and you don't want hostilities to make the final product unreachable. >> nina, there were a bunch of c.l.'s in town saying please do something so we can plan for our future. >> the difference betwe
different economy. what we have now is 8% unemployment. very sluggish growth and a trillion dollar deficit every year. you propose to raise taxes in that environment and you're not going to get growth. >> don't you understand you need to off set-- if you're serious about debt reduction, i think you are, don't you understand you need revenue and spending cuts. stuart: and how do you get revenues. >> how. >> please, go ahead, go ahead. stuart: it's easy you lower tax rates and keep incentive to work harder. >> we've tried that. stuart: and you can't-- what. >> george bush tried that. look at the deficit we had. stuart: well, wait a minute you cannot rewrite economic history. after george bush lowered tax rates the return to the treasury, the money coming into the treasury went way up and the deficit, by the way, in 2007 was 167 billion dollars. >> so. stuart: president obama has got, 167 billion a month just about. don't rewrite economic history, julie. >> i'm not rewriting economic history. stuart: you are. >> i'm not-- >> i'm telling you if you lower tax rates you'll get more revenue. >> t
, a lot of the other issues surrounding deficit reduction are going to be a whole lot easier. if we get this wrong, the economy is going to go south. we don't have a lot of time here. we have a few weeks to get this thing done. we could get it done tomorrow. optimistically, i don't think we are going to get it done tomorrow. >> the white house is using all social media resources to get the message out and put pressure on the republicans. >> today, i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress, write them an e-mail, post it on their facebook walls. you can tweet it using the hash tag my 2 k, not y2 k. >> the president was laughing about you the strategy, seriously effective. the my2k was one of the top trends on twitter all day long. republicans aren't too happy. they are getting outflanked. >> if the president wants to reach an agreement, he needs to be talking with the members of his own party rig
and supporting unspecified revenue hicks to cut the deficit and big business resigned to higher taxes. here is lloyd blankfine. >> we had to lift up the marginal rate. >> norquist's response? >> some of these people have had impure thoughts. no one pulled the trigger and voted for a tax increase. >> to be sure, norquist is still raking in big bucks. according to open secrets.org, he shelled out almost $14 million to defeat democratic opponents in this past election cycle. >> we've run ads to let people know who it taking the pledge and who doesn't. we'll do phones into letting people know who is taking the pledge. >> norquist's big backers are republican operatives, cross roads gps, the superpack led by kingpin karl rove and the center to protect patient rights. closely tied to the ultra conservative cook brothers. they account for a majority of the budget and there's no sign that they're running scared. norquist truly believes that best way to grow the economy is to tame big government. he told me recently he will be vindicated no matter how many politicians break the pledge. what happens
for the american people that extends tax cuts to the american people. brings our long-term deficits down. tough spending savings is part of that, and invest in things that matter to the american economy, like infrastructure, and getting americans back to work. we think we can do that. we have a good chance, and it's very important. and i think we'll get there, david. >> do you think we'll get a deal by the end of the year? >> i do. because the only thing standing in the way of that is a refusal by republicans to accept that rates have to go up on the wealthiest americans. and i don't really see them doing that. >> the idea that they have signalled something significant for them, which is -- >> what is that? >> putting revenue on the table. >> it's welcome that they are recognizing that revenues are going to have to go up. but they haven't told us anything about how far rates should go up, how far revenues should go up, who should pay higher taxes. >> republicans have said that no republicans will vote for a tax rate increase. do you think they are just bluffing? >> i can't tell you what they ar
overwhelming the deficit story was at that point. you know, you look at that administration. the coming in, just no one thought they could do anything. it's not unlike the conversations we're having now. and they went in, they did the deal, president bush had to shift from read my lips to as only he could put it, read my hips. and it was good for the country, it created a political dynamic that cost president bush the election in 1992, and which we're still living, because that gave us grover norquist, et cetera. >> let's get to grover norquist in a minute, but i do have a question. the gop plan consists of $2.2 trillion in savings over a decade. that includes raging the eligibility age for medicare from 65 to 67. and lowering cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue. but without raising taxes on the wealthy. in a letter to the president, leading republicans compared their plan to one erskine bowles drew up last year. >> not even close. >> he rejected that connection and the white house, of cou
the l.a. times. fiscal cliff let's take the plunge in the l.a. times. he said the u.s. deficit and debt will fall, social security will go on unharmed and we'll go back to tax rates that were better than the current ones. what do you think? >> i certainly don't want something that will put us into a recession. that's more republican thinking. but i think ultimately pugh has a pole saying 53% of the american people will blame republicans, to which i can only imagine republicans saying, oh we're finally ahead in a poll. boner is like a slug there is a bright orange trail of cheat toe dust and bronzer leading from his office. >> stephanie: okay. here you go. >> so many people are going to part-time work and being hurt. everyone i know is already seeing cutbacks, and the economy is going to be disastrous and only going to get worse under obama. >> stephanie: by the way that was dexter von frisch? >> it was. >> stephanie: he just screams at ann coulters voice? >> it's like an earthquake he just screams before it happens. >> stephanie: kids carbonite backs up everyt
, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. brilliant. put it another way. if there is an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to protect ourselves from asteroids. >> good morning. it's friday, november 30th. welcome to "morning joe." with us on set, we have msnbc political analyst and vice president and executive editor of msnbc.com, richard wolffe is here. >> he's here? >> my lord. right here on the set. political editor and white house correspondent for the huffington post, sam stein. >> hi. >> cute thing. and msnbc political analyst and visiting professor at nyu and former democratic congressman harold ford jr. >> good morning. >> good morning. >> he's reading. >> put that down right now. put the smut down. close it up. >> i'm l
deficit and debt. so this, this legislation both accomplishes that goal and still provides an increase in diversity which is what the senator from new york was talking about. and then an additional point is the point that the senator from texas so very clearly made. this legislation passed the house. last time i checked, legislation has to pass the senate and the house. that's a pretty important distinction. going back to the comments of the senator from kentucky. he said hey, if we can't do it all at once because of disagreements, let's start getting done what we can get done. so here is a bill that provides us with -- with people who can help our economy grow, people in the sciences and technology fields that we very much need. it will increase diversity just as the senator from new york said, and it's passed the house. common sense says let's go. let's pass the bill. so we very much want to join with the senator from new york and the senator from delaware and the other sponsors that he referred to, but let's join on something that can actually get done, meaning a bill that passes th
to work, a lot of the deficit goes away. >> didn't they say that last time? >> i didn't vote for that and the word stimulus is totally discredited. it did not -- 7% of that bill was investment and infrastructure. 42% was tax cuts. we've been trying tax cuts for more than a decade. they don't put people back to work. real investment does. we have report after report, economist after economist, real investment will put millions of people back to work. >> right. those were tax cuts of the vast middle in this country. what you want to extend and the republicans. i'm still confused. if the president wants $1.6 trillion in revenue and is going to do his math, that's $3 trillion in cuts. why only put 400 billion out? >> well, he's probably leaving himself a little room to negotiate. >> a little. >> is reasonable on medicare. if he just started negotiating lower drug prices, that saves medicare $230 billion over ten years. and then you deal with some of these high cost private insurance plans under medicare and a couple of other minor changes that won't hurt average american, won't m
benefits to help reduce the other deficits. >> to be clear that's one thing that's clearly off the table. social security is off the tables in these negotiations. >> in a separate process to strengthen social security not as a process to reduce the deficit. >>> on the issues of taxes, is there any flexibility on the president's position? does it have to go all the way back to the tax rates on the wealthy to the clinton levels? >> again, george, we think the best way to do this is to have those tax rates go back to where and one of the best, at one of the most prosperous times in recent american history to combine that reforms that limit reductions for 2%, i'm deeply skeptical about ways to get through this without that mix of rates and reforms. >> and if congress doesn't agree, you're comfortable going over that cliff on january 1st? >> there's no reason why 98% of americans have to see their taxes go up because some members of congress on the republican side want to block tax rate increase for 2% of the wealthy americans. remember, those tax cuts cost a trillion dollars over ten years.
, but not as part of the process to reduce the deficit the country faces. >> there's a notion some republicans are for lack of a better word salivating at a possible it divide where you have some democrats who want no movement on entitlements and if there's any heat to be taken, it to come from the gop or go to the gop. >> let me just say a couple of things. first of all, what geithner was referring to is that social security shouldn't be on the table right now because it's not a driver of the deficit we're dealing with right now. he's referring to a separate process next year. what the republicans have asked for previously and i hope they're not going to continue to ask for is essentially the dismantling of medicare. we debated it during the presidential with paul ryan's proposal to put -- turn medicare into a voucher system. so when it comes to looking for savings in medicare, there's ways to find savings without breaking the guarantee that we've had to our seniors for the last several decades. i think democrats, again, have demonstrated repeatedly that we're willing to compromise, but the r
and then these will be the numbers that the committees on capitol hill work towards in terms of having sizable deficit reduction. >> here is the problem, luke. how is it possible that speaker boehner puts on the table $150 billion less than he considered conceding during the grand bargain negotiations? did the last year not happen? >> reporter: what you're seeing here is a proposal by speaker boehner with the $800 billion in revenue which is where they were during -- >> you're trying to stifle yourself from laughing, luke. >> reporter: i'm not. i think one interesting points here in terms of the letter is that the first line is, dear mr. president, after a status quo election, and if you talk to folks at the white house, they don't view it as a status quo election. they thought what they had was a huge victory, and they are just -- if you're flying at 35,000 feet, you see the difference between both of them here is babe e boehner is like our margins in the house, you know, we still have a sense of clout. democrats are saying we increased our clout. this offer is meant by boehner to say the first one from geithn
achieved, but not meaningful debt or deficit reduction, no reform to entitlements, and i don't think there's tax reform. there's a deal in form, but i think there's more to get done. >> are we done? >> ask another if you want. >> do they really have to raise taxes? people accepted that's the outcome. >> i think that they need to raise revenue. how they do it, whether it's some tax increases or some limiting of deductions, but it shouldn't be hard to bridge a gap that's wider and wider. >> a matter of what it looks like, a given at this point. >> i think it is. >> higher taxes are coming. doug, thank you. ask as many questions as you want. >> you're generous with your time. >> that's what dagen does when she's here. >> she would be huck -- heckling you for your bad voice today. the supposed middleman in the debt negotiations throwing fire on the talks this week by saying nothing will get done unless republicans agree to raise tax rates on the rich. >> there you go. rich edson in dc with the latest on that. hey, rich. >> congressional republicans say the latest fiscal cliff shrugged off the
our bond rating to drop is the fact we're running unsustainable deficits and not dealing with our problem. that's exactly what the -- what the speaker is trying to get at. in terms of this issue, again, look, these are all people i like. these are people i agree with philosophically. i also want to do a good deal for the american taxpayer, including 98% of them. if we can take care of their issue -- i think we'll win the debate. i think they agree with us fundamentally that increases in taxes on anybody cost jobs. that's not good. but as long as it's owe their head their taxes might go up, i think they don't really have time to focus on that debate. again, i just think we ought to take that off. we agree with the president on that. but i respect the speaker. i support the speaker. >> we'll watch how this plays out. >>> joining me is democratic, barbara boxer wrote in politico today. we're looking there at a picture of, senator, of tip o'neill and reagan signing the bill. >> yes. >> on social security reform. you spoke about an earlier issue in your piece today about how they got t
put together a plan to move us towards some kind of deficit reduction package eventually evolved into the simpson-bowles commission plan. but the point i was making and i think the speaker is making is republicans have not come out here with some hardball, crazy off-the-table negotiation. what they have done is put something that bill clinton's former chief of staff at one time odd voe indicated for. and i think in the end that reflects that we are moving toward the potential compromise deal. >> he said -- >> i think i'm inappropriately in the middle here. i ought to be over there on the left. what bowles said yesterday was i was testifying before congress, and i described that as a midpoint between what republicans want and what democrats wanted. it was not what i would recommend. but i don't think that's even relevant. >> -- circumstances have changed since then. >> i don't even think that's relevant. i think the real question here and i think ron's right about this is are tax rates going to go up? yes, they're going to go up, because republicans are not going to have to vote f
a balanced approach to deficit reduction that doesn't hurt the economy and doesn't hurt middle class families. if we agree that we should not raise taxes on middle class families, let's begin our work with where we agree. >> of course there are some lawmakers who are not that optimistic. they don't think there's enough time between now and the end of the year to get a deal done. nonetheless the president will continue pushing his message. he heads to pennsylvania tomorrow. he will go to a manufacturing plant where he will continue talking about extending the middle class tax cuts, not extending them for the upper class americans. in the meantime, there's pushback from republicans who are saying the president should not be out the road campaigning but back here in washington negotiating. >> dan, i will ask you to look into your crystal ball. president obama is meeting with mitt romney later today. do you have any idea what they plan to discuss? >> you know, there's a lot of speculation about governor romney playing a role in the administration. but the president himself, during his victory spe
leaders. governors are concerned about the impact of deficit reduction measures on their state budgebu. the latest gop offer would overhaul the tax code, raise $800 billion in new revenue but seek $600 billion in health savings, net savings add up to about $2.2 trillion over ten years. boehner called the white house's original offer la la land and it does appear that even though at one point bowles endorsed a blueprint like this, he's trying to distance himself from it right now. >> the president got re-elected. he's claiming he got re-elected in part because he wants to tax that 2%. he cannot go back on that. in the meantime, congress most of the republicans signed the grover norquist pledge which says you cannot tax that 2% more than anybody else. you can't increase the taxes. so we're at a stalemate and someone has to give and i don't see anyone giving right now. >> bank of america today commented on the let's jump crowd. the bungee jump crowd for which they think is a scenario. >> you wonder how much of that is in negotiating position. embraced early on by senator schumer, new york
as it goes out into the country. are its priorities in this discussion about the deficit, the people's priorities that brought the administration to office and what will they do at some of those meetings as people say, well, we also want to talk about raising the minimum wage. we also want to talk about workers and the condition of work in this country. that stimulus spending, maybe it is not big enough. there is definitely an effort to redo some of the mistakes of the last term. they are in the same peril louse situation. >> we are looking at the $1.6 billion in tax increases. those are the big power moves. does that jive with what people want here? >> these aren't new numbers. these are the numbers that the president originally talked about. the original time two years ago and then a year before that in terms of bringing down the deficit. his plan for bringing down the deficit, which got nothing from boehner. i like the way you are putting this. in the first term, it seemed to me that obama was very conciliatory towards republicans. he wanted to create a grand one and he learned so
anything on entitlements, would prefer frankly not to have to do anything on some of these debt and deficit problems. if you look at the numbers, then medicare in particular, will run out of money and we will not be able to sustain that program, no matter how much taxes go up. i mean it's not an option for us to just sit by and do nothing. >> that was president obama in the summer of 2011 speaking the hard truths about entitlements. it did not exactly play well for him then and he's been largely quiet on the issue since, perhaps because for both parties talk of cutting social security and medicare hurts a lot. >> there's a pain point that democrats have to reach as well. it's not just republicans. that both sides have to be able to get to the end of this things and say, yes, the president won re-election but there is nobody that gets away with this thing without feeling pain. >> and there are some on the left who hope to get through this without having to go under the knife. adam green, co-founder of the progressive change campaign says -- yesterday on abc's "this week" congressman keith el
. we know we cannot deal with a serious deficit problem in this country as well as meeting our obligation to americans as well as making sure we protect the middle class. so he's put out a serious proposal of revenues and spending cuts and economic growth that does strengthen the middle class and get that economic growth. that's perfectly good starting point. the fact that speaker boehner rejected that, we're in a tough spot right now. what the republican leadership in the house has to do is say look here's what we want to do, here's what we believe we should do. they have to understand that the president won, the democrats gained seats in the house and the senate. the american people have said find that common ground, the beginning of that common ground is make sure we protect the tax cuts for the middle class. make sure we don't hurt the fragile economic recovery in the short term and let's deal with protecting medicare and deficit reduction for the long term. >> there's a piece in the "new york times" talking about the president's new negotiate i want aing style. it said mr
address the fiscal cliff. any plan to reduce the deficit should quote start small and then grow very substantially over time. so dudley basically agreeing with the take that sandy is a bigger event, and then you want to add on top of that dudley's concerns about the fiscal cliff coming our way. >> what does this mean for the retailers because right now we have the impact of sandy, because they're confined pretty much to november. we had this seasonally strong period for retail sales especially for the holiday season. but does that mean the kruk -- money is being spent instead on gypsum board and other materials that need to be bought for reconstruction? >> there is a big disconnect here, we had terrific consumer confidence numbers, so i think the nation itself should be stronger. the high income areas, remember, these were high income areas, a lot of times we're used to storms not hitting the high income. but i do think that we're going to see it pushed to 2013. this is not fukushima where they just decided they couldn't rebuild. this is major areas that once we get the materials are
for the fanel to advance a deal with democrats to cut deficits but -- >> grover norquist drowns himself in a bathtub. after he hears that. >> he made me do it. >> stephanie: two of the republicans that vote most often against boehner. boehner is trying to control his caucus. >> i'll be really surprised -- >> stephanie: these two guys, whatever their names are they said despite sweeping changes to medicare and medicaid, paul ryan's budget didn't make deep enough cuts to entitlement. those guys. yeah, that wasn't quite mean enough. [ applause ] >> i would be surprised if boehner kept his leadership position in the next congress. >> stephanie: really? >> yeah. because he's not -- >> stephanie: i picture eric cantor rubbing his hands together like snidely whiplash. >> he can't keep the caucus together. the republicans are famous for staying together. he can't keep them together. >> flabbergasted! >> that's doing a bad job. >> stephanie: he's flabbergasted at his own caucus. [mumbling] >> stephanie: by the way doesn't
i but you have to find some way to change the deficit and we have for the got p baten back to any of growth. >> it's because you all the borrowing has scared consumers, scared business investors. so what you really need is if president obama ran on a balanced plan, okay, he won, so maybe the reality is some tax rate will question up, but the problem with that is our deficit last year was $1090 billion large. my point to president obama is where is the other part of your balanced plan. how are you into to go restrain or close the additional trillion dollars worth of deficit. >> you want to see entitlements tackled. in th if that were the case, would you then go on the tax rate on the richest americans? >> i'm not going to answer hypotheticals and negotiate here on the set. what we need to do is see the president's plan. i've done enough negotiations in business to understand who is negotiating in good faith wlorks is moving the goal posts. i think it's time right now for president obama to show the american people his full balanced plan. we haven't seen it. democrats haven't passed
the business community views this deficit thing as the biggest problem that we can solve that we need to solve. there's something called a campaign to fix the debt, which i'm on the steering committee, 120 leading ceos from everything from general electric to jpmorgan on down. really committed to doing something and accepting the idea that revenues have to go up, not ideological about how, but most of all, wanting a big $4 trillion package. and so they have become, in effect, allies of the president. they're really trying to get to the same place. at some point there may be differences over how much entitlements, how much this or that, but right now their interests are aligned, and they both agreed to be friends again. and so they've spent a stream of business ceos into the white house. the president -- yesterday the business roundtable and gave a very warm and accommodating speech. and they are comrades in arms, the least for the time being. >> willie, what a big difference from what we heard from business leaders for the first four years. this is a pretty dramatic shift. >> or even just a fe
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